Fire gut NNPC Station in Ogba (Pictures)
The Nigerian National Petroleum Corporation (NNPC) filling station along College Road, Yaya Abatan, Ogba in Lagos State was ablaze on Monday.
Senate approves Buhari’s N850bn loan request
The Senate has approved the N850bn loan request of President Muhammadu Buhari. The president had sought the Senate’s approval for the loan to fund some projects in the 2020 budget. He made the request in a letter read on Tuesday by Senate President Ahmad Lawan, during plenary. Buhari sought to raise the loan from the Domestic Capital Market to finance critical projects and programmes in the 2020 budget. He said the recent developments in the global economic environment occasioned by coronavirus and decline in international oil prices had made it less attractive to borrow from the International Capital Markets. Buhari said the conditions in the Domestic Capital Market were favourable in terms of availability of funds and relatively low-interest rates. The letter read in part, “To ensure that there are adequate funds to finance critical projects and programmes in the 2020 Budget, I hereby seek the Senate’s approval, by Resolution, to raise the N850bn of New External Borrowing...
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